Can I add to both a SEP and traditional IRA and get full deduction for both?

[nmw1]

I am self employed over 79 years old. I do consulting and have some income. Can I contribute to both plans and what are the tax deductions limits? Where do I enter each plan? One in business and one in personal?

[Bsch4477]

You can contribute to both but your IRA contribution would not be deductible if you contribute to a SEP since you would then be considered as having an employer retirement plan (you are the employer). The SEP deduction appears on Sch 1 line 15 and TurboTax will calculate the maximum amount you can deduct based on your self employment income. 

[nmw1]

Good answer to my question.

Thank you!